Intact Investment Management Inc. Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Intact Investment Management Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.7% in the first quarter, HoldingsChannel reports. The firm owned 4,200 shares of the electric vehicle producer’s stock after selling 400 shares during the period. Intact Investment Management Inc.’s holdings in Tesla were worth $1,088,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TSLA. Vista Capital Partners Inc. grew its position in shares of Tesla by 1.4% in the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock worth $795,000 after buying an additional 27 shares during the last quarter. Blackston Financial Advisory Group LLC grew its holdings in Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after purchasing an additional 27 shares during the last quarter. Kooman & Associates increased its position in shares of Tesla by 2.4% during the fourth quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer’s stock worth $480,000 after purchasing an additional 28 shares in the last quarter. Rinkey Investments lifted its holdings in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after purchasing an additional 29 shares during the last quarter. Finally, New England Capital Financial Advisors LLC boosted its position in shares of Tesla by 2.6% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,195 shares of the electric vehicle producer’s stock worth $483,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $322.16 on Monday. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a PEG ratio of 12.05 and a beta of 2.47. The firm’s fifty day moving average is $306.22 and its two-hundred day moving average is $331.70.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the company earned $0.45 earnings per share. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Glj Research reiterated a “sell” rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a research note on Friday. Roth Mkm cut their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $293.67.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.